Armchair Mortgages

Mortgage Brokers in Cannock

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60 Foxfields Way
Huntington
Cannock
WS12 4TA

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About

Founded in June 2000 Armchair Mortgages is a Partnership which specialise in mortgages and protection insurance and are directly authorised by the FSA to advise on and arrange these products. Our advice is based on the whole of market and we use an extensive panel of providers, which we review periodically, to provide the best protection insurance cover or mortgage quote. ... ...

Can You Afford Not to Have Income Protection

There are many reports circulating in the trade press regarding what is commonly called 'The Protection Gap' the meaning of which is those families and individuals who have failed to take out some form of protection insurance. Estimates vary on how much in monetary terms this actually is but one thing that is beyond dispute is that public apathy to most forms of life assurance has a lot to do with it.Most people see the sense in having some form of insurance when purchasing their first property but even then many complain they cannot really afford it. This argument doesn't really hold water, especially for a young healthy non smoking couple taking out mortgage protection, which in this case is their cheapest option because the sum assured, the amount paid should either of them die, reduces over the period that the mortgage was taken out and is designed to pay off the loan. As a typical example a male and female non smoking couple aged 26 could purchase mortgage protection with a guaranteed premium for 30 years with a sum assured of £125000 for £8.90 per month. So for just over £2 per week they have the safeguard that should either of them die within the next thirty years the mortgage is paid off. Surely this is worth having as it helps alleviate the major financial difficulty should the worst case scenario occur.The problem convincing clients this really is worthwhile can be extremely difficult as they have a mindset that it can never happen to them. However we all know or have heard of people that have died in their twenties, thirties or forties so that really nullifies that objection. Of course there are many other options that clients should consider to protect themselves and their loved ones and that does not necessarily mean dying prematurely.Clients should really consider all their protection options like critical illness cover, income protection insurance and family income benefit when they take out their first mortgage. The best advice is really for clients to prioritise their needs and set a monthly budget that is affordable so whatever happens they have at least some form of cover in place.

Trade Bodies / Associations

FSA Registered - No. 304264

Trading Since

2000

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